TGI - Why Triumph Group Stock Triumphed This Week
2023-05-19 18:28:53 ET
Triumph Group (NYSE: TGI) is an apt name for a company that thrashed the exchange this week. Over the last five trading days, Triumph's shares rocketed almost 18% skyward, according to data compiled by S&P Global Market Intelligence . That was a far better performance than the sub-2% increase of the S&P 500 index over that span of time.
Investors were cheered by the company's latest set of quarterly results, accompanied by a generous analyst price target increase.
For its fourth quarter of fiscal 2023, Triumph's sales enjoyed a 14% year-over-year increase to land at just over $393 million. Non- GAAP (adjusted) net income, meanwhile, came in at $34.5 million ($0.39 per share).
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Why Triumph Group Stock Triumphed This Week